BERLIN — In the first major transaction since its formation earlier this year, private equity firm HMD Partners will invest about $50 million in the German fashion house Escada AG.
The agreement, which was signed Friday, calls for HMD to acquire up to a 29 percent stake in Escada through a capital increase, an acquisition of Escada AG’s treasury stock, now 8.5 percent of the current capital stock, and the subscription of a convertible bond. A special shareholders’ meeting has been called for Aug. 19 to approve the capital increase.
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